A large number of firms weren’t prepared when the Web became accessible and adopted by the people so quickly. A growing number of Singaporean businesses are fighting to outperform their more digitally informed rivals via the little known online marketing platform.
The true winners were businesses that had a well planned strategy in internet marketing, created either internally or by means of collaboration with a digital marketing agency. These enterprises noticed an increased user base comprising more engaged and dedicated consumers. Clearly, internet marketing is a convincing tool in business. As of now, there were many instances where businesses propelled themselves out of difficult times with this weapon. One particular instance is with the multinational supermarket chain Perinet.
A number of years back, Perinet stood as a leader in the retail market – due to locations countrywide with little or no business opposition. Then, in a turn of events, Perinet encountered unprecedented obstacles that threatened its existence in the marketplace.
Issues they faced
The first difficulty encountered is the inordinate fees of restructuring stemmed from the appointing of a new CEO. This was the result of an unsuccessful attempt to broaden their reach throughout Europe and Asia.
The entrance of Amcast and Genicon made business even more challenging for Perinet. These two businesses realized that Perinet was not serving the entire market; underserved or neglected segments existed that could be readily exploited for gains. The battle for market share was not limited to brick-and-mortar constraints – minor players that usually would not be a menace capitalized on the potency of digital marketing to get some ground.
During this time, Perinet’s standing as a household name was amongst its strong suits. But the name recognition can only prevent failure, and it did’t protect them from losing investor faithfulness. Visible shareholders of the sickly company announced on public record that they have lost a minimum of $200 million just from the poor financial performance.
How Perinet Saved Itself through a Digital Marketing Campaign
The newly appointed Chief Executive Officer believed steadfastly in employing technological innovation to transform a business; that was the main reason why he was hired. Even with a completely functional online store in place, they needed to step up their game.
The newly appointed CEO kicks off the revamp by forming an in-house digital marketing team. This was done so that a foundational set of digital marketing standards could be established and utilized as a base for future tasks. Even then, keeping to the main plan had constraints for the inhouse team. It reached the conclusion that employing a digital marketing agency was critical in keeping up its online campaign.
Attracting and Retaining a Clearly Defined Audience through Content Marketing
Productivity, value and return are of extreme importance in this highly competitive era. Perinet exploited on content marketing as the primary tool to increase e store gains and appease their investors.
Perinet added a new Recipes link to their online store which when clicked brings the user to a microsite called “Online Goodness.” Food-related info such recipes, motivational examples and health trivia were discussed openly with this website.
Its introduction enabled Perinet to soft sell itself by adopting an educational approach and being helpful to the customer. Moreover, it acts as a gateway to Perinet’s e commerce shop. By not having any sales pitch on the microsite, it can help to deliver a message that Perinet really wants its customers to live and eat healthily. The strategy applied here relies upon classic human mindset of wanting prompt gratification. Perinet’s approach offers simple convenience, minimizing the risk of consumers being drawn away by other online grocery stores.
Leveraging on Social Media
Social media advertising was another vital tactical element throughout the campaign in digital marketing that was implemented by Perinet. By the absolute scale of the company, Perinet was able to have an internal team to run this part of the campaign directly, avoiding the need for a professional marketing agency specializing in social media. To kickstart the effort they initialized their very own official accounts on websites that include Instagram and Google .
Internal direction of these social media outlets enabled Perinet to generate and transmit advertising messages in a fast and direct mode. Such efficacy certainly means that users are always up to speed on the most recent promotions and news.
Next, it empowers them to continue refining their online brand reputation. A disgruntled customer or perhaps a rival could quite easily harm a company’s social media credibility by signing up for a fraudulent profile. With zero influence or control of these accounts, it’d be effortless for an outside party to destroy the image of the business in question. However, an in house social media agency would forbid such unwanted occurrences. Now that Perinet is the one and only channel for all updates, the firm is secured from such unfortunate situations.
Initiating Good Customer Support through the website
Customers are the lifeline of any company; what many fail to understand is that, post-sales support plays a vital role in enriching brand loyalty. Outstanding support helps to create chances for loyalty to the brand and repeat purchases, as research has always shown. Here’s where Perinet actually shines.
To show this, Perinet created a really specialized social networking profile to manage and resolve customer complaints. This helped to make sure customers have a suitable route to direct their feedback, while other users can shop easily without having to be encumbered by insignificant messages.
Basically, direct and personalized responses to questions make customers feel genuinely looked after. This begins by nurturing a team that handles customers on a personable level, responding to their questions and resolving issues in a warm and helpful way. This will, certainly, bring the users nearer and compel them to splash out more at a later stage.
Did it Succeed?
Perinet’s strategy in digital marketing is benefiting them greatly as they now control the largest market share of grocery stores in Singapore. As of data compiled by a number of statistics websites in July last year, Perinet holds approximately a quarter of the market share. The next competition was lagging far behind, only managing to get hold of about 50% of that.
Their firm standing in the marketplace is definitely poised to expand as they carry on building their strategies for digital marketing. They are in position to reap the benefits of their exploits into technology – a mobile app is said to be in the pipeline. By simply removing the obstacles that limit website design and development, this mobile application has far better potential to get through to a widespread number of consumers.
Perinet’s instance offers many lessons. First is that the period that a company has been in business and present foothold is not a guarantee in the digital age. Every participant in the market can use a variety of online marketing techniques to extend its reach and compete head on with giants on an identical stage.
Thus, it really is no longer an option on whether you desire to tap on digital technology for advertising in Singapore today. Without it, a business’s share of the marketplace can quite easily be snatched away by the more digitally knowledgeable competing firms.